Business Goals in 2016

Another year has come and gone and here at Mawson Global, and we’re eager to jump full-force into 2016.

As a new year approaches, now is the time to outline your ambitions and goals for 2016.

Setting attainable goals can seem incredibly daunting at times. However, our goals also serve as “navigational beacons” that keep us on a successful path, even when things get tough. By knowing what our goals are, we can more easily ensure we don’t veer off course.

Whatever your goals for the year may be, make sure they’re S.M.A.R.T; that is Specific, Measurable, Actionable, Relevant, and Timely. Utilizing this methodology drives you to sit and think about the substance of your goals. Why is this goal more relevant or pertinent than that goal now? Thinking of your goals in these terms reinforces the whys and hows.

Once you’ve set your goals, share them with people you trust. These people will serve as your support and accountability partners. When you outline your goals clearly, you and your support team have baselines and benchmarks you can reflect on to measure success and realign moving ahead.

Do your 2016 goals include ambitions of working with overseas suppliers? If so, 2016 is gearing up to be another banner year for Chinese manufacturing and trade. Researching and analyzing whether or not global sourcing is the right fit for you and your organization can be intimidating. Sourcing, though, can provide significant cost and time saving benefits, while increasing profits and strengthening the overall business.

At Mawson Global, we understand your concerns and needs, which is why we have developed the “Are you ready for Asia?” audit. Ask yourself, “How do you think Asia is impacting your business?” You may be able to come up with a number of responses to that. We believe that, largely, it boils down to two points: reducing costs by importing and increasing sales by exporting. If you fall into either of these camps, click here to learn more about the “Are you ready for Asia?” audit. 

Mawson Global Case Study: Annual cost savings of $550,000

Industry: Building and construction

Looking to Source: Glass (colored, etched, clear and frosted)

Results:

* Annual cost savings of more than $550,000.

* Rapid procurement of multiple sourcing options.

* Multiple pricing options for several qualified suppliers.

* A sense of loyalty to Bank for introducing the company to Mawson Global.

The Objective

Our client, a steel fabricator and manufacturer, has a niche market in the installation of glass balconies on apartment buildings. The company wanted to save money on the various types of glass needed in the construction of these balconies. By the suggestion of its bank it contacted Mawson Global with hopes of not only identifying cost savings, but also a reliable global sourcing partner.

The Approach

The client reached out to Mawson Global after their bank referred them to us. We’ve worked with the referring bank with many clients and the bank recommended us because of our expertise in global sourcing and our ability to help the client reap the benefits of sourcing.

Taking the client’s product specifications for the finished product into careful consideration, our China-based staff researched a variety of suppliers, and we were able to recommend reliable partners producing the material in several China provinces.

We employed our proven rating system to identify the top suppliers by marking efficiency levels, reliability and quality. In less than a week, we presented the client with four different options from different suppliers in China in our informative, easy-to-read Sourcing Report.

The Benefits

Significant Annual Cost Savings

Substantial Savings: Thanks to Mawson Global’s global sourcing expertise, the client chose a vendor that will help it experience an annual costs savings of more than $550,000.

Awesome ROI: As a result of Mawson Global’s fee-for-service model, the client paid a one-time fee for our service, but the company will reap the benefits for years to come.

Future Options

Multiple sourcing opportunities: Mawson Global was able to identify several dependable supplier options to fit the client’s needs.

Future flexibility: Because of Mawson Global’s assistance, the client now has the ability to quote on more jobs because management can concentrate on installation, not manufacturing.

Added bonus: The owner of the company didn’t even have a passport before its alliance with Mawson Global. Now, four months later, he not only has a passport, but he’s importing the materials his company needs to be successful.

Strong Loyalty to the Referrer

Instilling trust: The referring bank has had a working relationship with Mawson Global for a number of years, and provided the client with a dependable and experienced global sourcing partner it can trust. The client’s relationship with the bank is stronger now because of the assistance it provided in the global sourcing process.

Comprehensive Approach: Mawson Global provided a full array of services for this client, applying its QuickLook Analysis, Supplier Research, Supplier Visits and Sourcing Project Management.

Overcoming Language Barriers with Global Sourcing Partners

Globally sourcing your company's products can improve your productivity, efficiency and bottom line, but sometimes language barriers can get in the way. From simple miscommunications to cultural gaffes, language barriers can cause international business relationships to grind to a halt.

It’s important to have a strategy in place to mitigate language issues before they cause serious problems. So, here’s a closer look at strategies that can help overcome language barriers with your global sourcing partners:

1.       Translate all critical documents into the local language. Before embarking on a business partnership, it’s important to consider the basic documents that will outline and guide the relationship. Examples of critical documents include legal contracts, sourcing guidelines, company and background information, and operating agreements. Translate these documents into the local language to ensure that both members of a partnership get off to a good start. It gives everyone involved a clear frame of reference. Any point of confusion or disagreement can refer back to these original core documents.

2.       Utilize multiple channels for communication. One of the most effective strategies for overcoming language barriers is creating redundant systems. Don’t rely on a single source of communication to handle important conversations. Follow up conference calls or Skype discussions with summary emails that outline the major takeaways. Email exchanges are easier to track than phone and in-person meetings, but written communications also should be supplemented with other points of contact. Even simply hearing a colleague’s voice helps to build strong relationships.  

3.       Partner with sourcing firms that have language capabilities: When you’re selecting your global sourcing partner, choose a firm that has language and translation capabilities. The right partner will be able to navigate your sourcing market with conversational fluency, but also be able to translate written documents as part of the process. The best firms offer this support to clients as part of the ongoing relationship, and can provide premium support at a reasonable price when special translation needs arise.

If you’re contemplating launching a global sourcing initiative, Mawson Global can help. Contact us to discuss your business, your sourcing goals and how our services can make it easier to navigate the process today.